Which of the Following Is NOT a Step in the Forecasting

question 5

Multiple Choice

Which of the following is NOT a step in the forecasting process?

• A) Determine the use of the forecast.
• B) Eliminate any assumptions.
• C) Determine the time horizon of the forecast.
• D) Select the forecasting model.
• E) Validate and implement the results.

---

Definitions:

Dispersed Distribution

Refers to how spread out or scattered the data points are within a distribution.

Weighted Mean

An average in which each quantity to be averaged is assigned a weight, reflecting its importance or frequency.

Geometric Mean

The nth root of the product of n numbers, used to calculate average rates of return or growth over time for variables that fluctuate multiplicatively.

Data Value

A specific piece of information, often numerical, that is collected, analyzed, or stored as part of a data set.